Patton Albertson Miller Group LLC Takes $205,000 Position in Lockheed Martin Co. (NYSE:LMT)

Patton Albertson Miller Group LLC acquired a new position in Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 350 shares of the aerospace company’s stock, valued at approximately $205,000.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Bank of Montreal Can raised its position in Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after buying an additional 13,253 shares during the last quarter. Old West Investment Management LLC lifted its stake in Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares during the period. Buck Wealth Strategies LLC purchased a new stake in shares of Lockheed Martin during the 2nd quarter valued at about $6,611,000. Finally, Empower Advisory Group LLC grew its stake in shares of Lockheed Martin by 9.1% in the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after acquiring an additional 1,843 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.1 %

Lockheed Martin stock opened at $521.48 on Wednesday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The firm has a market capitalization of $123.61 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 4.27 and a beta of 0.49. The firm has a 50 day moving average of $571.19 and a 200 day moving average of $528.54. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the company posted $6.77 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.53%. Lockheed Martin’s dividend payout ratio is 45.62%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. TD Cowen raised their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lowered their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Susquehanna lowered their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $611.00.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.